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Windsor Development Group Hawkland Estates

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Windsor Development Group Hawkland Estates

Experienced Developer Public Housing Authorities

Windsor Development Group Hawkland Estates

DEVELOPER INFO:

Lead Developer: Windsor Development Group (Mike Niehaus) is the turnkey developer in partnership with the Greene County Housing Authority. Windsor Development Group has completed over a dozen similar projects throughout rural Illinois in partnership with local housing authorities. Windsor contracted with LGG to complete the financing while it focused on all of the construction activities, including acting as the general contractor.

Co-Developer Info: Apple Prairie Residential Services is the non-profit arm of Housing Authority of Green County. The Housing Authority of Greene County is a local government agency established to construct, own, operate, and manage public housing and other forms of subsidized housing for low-income residents in Greene County, IL. Greene County ordinances establish Public Housing Authorities, and the local legislative body appoints the Greene County Housing Board.

 

PROJECT INFO:
Hawkland Estates is a 20-unit single family home subdivision located in Carrollton, Illinois, which is the population center of Greene County. In 2013, four additional units were built to finish out the subdivision. All units are affordable between 30% and 60% AMI. Several units have rental assistance, and units will be converted to homeownership following year 15.

project info

  • Developer Name: Windsor Homes
  • Lead Developer: Windsor Development Group
  • Co-Developer: Apple Prairie Residential Service, the non-profit arm of the Housing Authority of Greene County
  • Project Address: Carrollton, Illinois
  • Number of Units: 20
  • Date Closed: Sept. 2013
  • Property Type: Family Housing

 

Project Funding Sources:

  • 9% LIHTC Equity
  • State Low-Interest Loan
  • FHLB AHP
  • Energy Grant

 

Unique Project Elements: 

  • The developer has a home ownership plan in place to go into effect after the initial tax credit compliance period.

 

Lightengale’s Role:

  • Strategy
    • LIHTC Application
    • Project Based Vouchers/RAD
    • Project Budget
  • Financing Execution
    • Project Debt & Equity Coordination
    • Energy Grant Application
  • Due Diligence Coordination
    • Property Mgmt Documents
    • Closing Owner Sworn Statement
  • Post Closing Services
    • Equity Installments coordination
    • LIHTC - Carryover/10% Test

 

Photo Credit: Windsor Homes

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